SoundCloud posted a $82m loss in 2016, but took on $170m in investment last year

In 2016, SoundCloud posted sales of €50.3m ($56m), up 89% year-on-year. That impressive growth in revenues was tempered, however, by a 136% jump in SoundCloud’s cost of sales – including royalties paid to music rights-holders – which hit €36.13m ($40m) in the year.